What Makes A Pawn Shop SpecialPawn shops offer a service to their community that aren’t offered anywhere else. If you need a small and quick loan, to cover an unexpected doctor or cell phone bill, you can go into a pawn shop with an item of value and use it as collateral with some interest applied.
At Gems N’ Loans in Temecula we have interest rates as low as 2%. There is no dealing with credit, checking accounts, or confusing and misleading terms and conditions. The terms are simple for anyone. For example, once you are able to pay the loan back with interest, they will then be able to take their item back. If the customer is unable to pay the loan back in the time agreed by the customer, the only consequence is that the pawn shop takes ownership of the item. This does not impact your credit score or any other aspect of your personal finances.